Cyprus Launches Criminal Probe to Dig Deeper Into Financial Collapse

Criminal investigators will help judges in Cyprus dig deeper into what caused a financial crisis that forced the island to ask for a bailout by international lenders, authorities said on Friday.

An inquiry into Cyprus’ financial practices led by three former Supreme Court judges has been limited by their refusal to delve into areas which could become subject to lawsuits, such as possible failures in corporate governance and acquisitions.

“The issues raised (by judges) can be resolved by inquiries which will be handled by criminal investigators,” said Ionas Nicolaou, Cyprus’s Justice Minister.